1. 3Q03 Earnings

2. efficiency reflected in numbers
Highlights
R$ million
Change%
3Q02
2Q03
3Q03
s/3Q02
s/2Q03
Total Assets
213,412
205,762
215,134
0.8
4.6
Credit Operations 1
62,930
68,662
72,601
15.4
5.7
Security Portfolio
75,770
72,746
74,055
-2.3
1.8
Deposits 2
96,238
99,881
103,071
7.1
3.2
Asset Management - R$ bi
56.0
83.2
91.8
63.9
10.3
Shareholders’ Equity 3
8,410
10,872
11,687
39.0
7.5
Market Capitalization
5,629
9,582
11,712
108.1
22.2
Net Income
605
600
665
9.9
10.8 4
ROE %
32.9
24.8
25.7
Earnings Per Share - R$
0.83
0.82
0.91
1- Credit operations, Leasings operations and others credits, according Res. 2682/99
2 - Demand, Time, Savings and Interbank
3 - Net Income included
4 - Annualized 2

3. adding value to shareholders...
Net Profit and Return On Equity
R$ million
22.9
32.9
22.8
30.2
25.7
24.8
1,744
21.3
665
605
600
600
1,428
479
3Q02
4Q02
1Q03
2Q03
3Q03
Net Profit
ROE %
9M02
9M03 3

4. solid results Income Statement 3Q02 2Q03 3Q03 Gross Financial Margin
Including Reallocations
Change%
Change%
3Q02
2Q03
3Q03
on 3Q02
on 2Q03
R$ million
Gross Financial Margin
3,688
3,524
3,888
5.4
10.3
Provision for NPL
-834
-863
-747
-10.5
-13.5
Net Financial Margin
2,854
2,661
3,141
10.1
18.1
Service Fees
1,118
1,343
1,412
26.4
5.2
Turnover Tax Expenses
-136
-241
-242
78.3
0.1
Contribution Margin
3,836
3,763
4,312
12.4
14.6
Administrative Expenses
-2,503
-2,466
-2,931
17.1
18.9
Commercial Income
1,333
1,297
1,381
3.6
6.5
Operating Income
902
1,016
1,213
34.6
19.4
Income before Profit Sh,Taxes Ext.Items
930
1,058
1,231
32.4
16.4
Income Tax and Social Contribution
-300
-409
-516
72.0
26.2
Profit Sharing
-25
-49
-50
101.0
2.2
Recurrent Result
605
600
665
9.9
10.8
Extraordinary Items
Net Income
605
600
665
9.9
10.8 4

5. ready to a new environment
Analysis of volume and Spread
R$ million
Change%
3Q02
2Q03
3Q02
on 3Q03
Gross Financial Margin
3,688
3,524
3,888
5.4
Assets (-) Permanent *
189,979
198,267
209,071
10.0
Spread - %
Spread Annualized
8.00
7.30
7.60
* Average balance
Loss due to spread decrease
Loss on spread decrease
and volume increase
3Q %
(155)
(16)
3Q %
Gain due to volume increase
3,688
371
Volume - R$ million
3Q02 189,979
3Q03 209,071 5

6. asset quality preserved
Change%
1.3%
1.4%
R$ million
R$ million
3Q02
2Q03
3Q03
on 3Q02
1.3%
Gross Financial Margin
3,688
3,524
3,888
5.4
1.0%
1.0%
Provision for NPL
-834
-863
-747
-10.4
834
855
863
Net Financial Margin
2,854
2,661
3,141
10.1
747
636 %
6.2
6.0
5.6
3Q02
4Q02
1Q03
2Q03
3Q03
5.9
5.3
5.8
5.0
NPL Expenses
Expenses Portfolio
5.5
R$ million
3Q02
2Q03
3Q03
5.1
4.8
Total Credit Portfolio
63,017
68,662
72,601
Overdue Loans
3,879
3,610
3,596
Overdue more than 15 days
3,683
3,497
3,494
3.5
3.3
3.2
3.2
3.0
Overdue more than 60 days
2,190
2,228
2,333
Write-offs
537
574
534
3Q02
4Q02
1Q03
2Q03
3Q03
Credit Recovery
162
207
286
Overdue Loans/Total Credit Portfolio
Losses Balance
374
367
247
Overdue more than 15 days/Total Credit Portfolio
Losses Balance/Total Credit Portfolio -%
2.4
2.2
1.4
Overdue more than 60 days/Total Credit Portfolio 6

7. customers’ loyalty and asset management leadership
Change %
Change.%
R$ million
3Q02
2Q03
3Q03
on 3Q02
R$ million
3Q02
2Q03
3Q03
on 3Q02
Service Fees
1,118
1,343
1,412
26.3
Net Financial Margin
2,854
2,661
3,141
10.1
Customer Relationship Fees
326
402
407
24.8
Services Fees
1,118
1,343
1,412
Management of Investment Funds .
163
183
214
31.3
26.3
Loan Operations 93
137
142
52.7
Turnover Tax Expenses
-136
-241
-242
77.9
Collection
103
120
130
26.2
Services to Related Companies 90 95
104
15.6
Contribution Margin
3,836
3,763
4,312
12.4
Credit Cards
100
115
109
9.0
Others
219
253
273
24.7
Asset Management
R$ billion
Customer Base - in Thousands
18.6
18.7
18.8
17,049
17.4
16,718
15.7
15,910
1,112
1,073
15,391
14,976
1,005
91.8
992
83.2
975
78.0
66.2
15,645
15,937
56.0
14,905
14,001
14,399
3Q02
4Q02
1Q03
2Q03
3Q03
3Q02
4Q02
1Q03
2Q03
3Q03
Individuals
Companies
Asset Management
Market Share % 7

8. cost structure suitable with business generation
Change%
Change %
R$ million
3Q02
2Q03
3Q03
on 3Q02
R$ million
3Q02
2Q03
3Q03
on 3Q02
Administrative Expenses
-2,503
-2,466
-2,931
17.1
Contribution Margin
3,836
3,763
4,312
12.4
Other Administ. Expenses
-1,061
-955
-1,221
15.1
Administrative Expenses
-2,503
-2,466
-2,931
17.1
Employees Expenses
-1,410
-1,481
-1,681
19.2
Commercial Income
1,333
1,297
1,381
3.6
Salaries
-645
-771
-802
-24.3
Social Charges and Benefits
-393
-482
-496
26.2
Training -7 -8
-10
42.9
Labor Suits
-105
-73
-80
-23.8
Prov. for Vacation/Leaves
-257
-146
-292
13.6
Points of Service - in Thousands
Human Resoucers - in Thousands
12,755
12,930
12,175
12,333
12,545
10.3
9.5
10.6
10.5
10.8
11,174
11,573
3,134
3,164
3,183
3,209
3,218
3,077
3,050
78.0
78.6
79.5
79.5
79.7
8,496
9,041
9,169
9,362
9,546
9,712
8,124
1Q02
2Q02
3Q02
4Q02
1Q03
2Q03
3Q03
3Q02
4Q02
1Q03
2Q03
3Q03
Others
Branches
Employees
Interns 8

9. productivity equation completed by technology
Automatization
17.6
14.8
3.3
4.1
84.1
84.6
85.0
85.2
14.1
16.0
82.5
82.4
81.4
9.1
11.6
78.6
76.9
76.2
73.9
52.5
51.2
mar/01
jun/01
set/01
dec/01
mar/02
jun/02
set/02
dec/02
mar/03
jun/03
set/03
sep/02
sep/03
Eletronic Transation / Operating Income - %
ATM
Internet
Financial Manager
POS
Cashier
Efficiency Ratio - %
Coverage Ratio - %
60.9
Service Income/Personnel Expenses
90.7
59.3
57.7
58.0
57.5
86.0
56.7
84.0
80.7
79.4
79.3
54.0
77.1
1Q02
2Q02
3Q02
4Q02
1Q03
2Q03
3Q03
1Q02
2Q02
3Q02
4Q02
1Q03
2Q03
3Q03 9

10. BB - the bank that most invests in Brazil
Change.%
Sep/02
Jun/03
Sep/03
on Sep/02
on Jun/03
R$ million
Total Assets
213,412
205,762
215,134
0.8
4.6
Liquid Assets
94,377
79,381
91,627
-2.9
15.4
Credit Operations
51,330
56,686
60,442
17.8
6.6
Tax Credit
12,461
10,433
9,897
-20.6
-5.1
Others Assets
55,245
59,261
53,168
-3.8
-10.3
Total Liabilities
213,412
205,762
215,134
0.8
4.6
Deposits
96,238
99,881
103,071
7.1
3.2
Other Liabilities
108,764
95,009
100,376
-7.7
5.6
Stockholders Equity
8,410
10,872
11,687
39.0
7.5
Market Funding – R$ billion
Assets Composition - %
145.9
149.5
141.3
24.2
23.1
25.9
24.9
27.0
28.8
24.7
7.1
7.0
5.8
5.8
5.2
5.1
4.6
25.4
27.4
24.1
25.2
25.6
27.5
28.1
43.3
42.5
44.2
44.2
42.2
38.6
42.6
46.8
49.6
49.7
43.0
46.5
41.5
5.6
5.4
6.4
21.4
21.2
20.5
26.3
26.4
26.6
mar/02
jun/02
sep/02
dec/02
mar/03
jun/03
sep/03
Liquidity assets
Credit Operations
Interbank
Demand
Savings
Time
Open Market
Total
Tax Credit
Other Assets
Deposits
Deposits
Deposits
Deposits
Funds
1010
sep/02
jun/03
sep/03

11. liquidity preserved Securities Portfolio 3Q02 2Q03 3Q03 Cost Mark V.
R$ million
3Q02
2Q03
3Q03
Cost
Mark V.
Cost
Mark V.
Cost
Mark V.
Available for Trading
3,712
3,710
2,104
2,104
5,371
5,393
Available for Sale
48,936
45,990
42,752
42,515
43,159
43,157
Held to Maturity
25,669
22,571
27,640
25,974
25,109
23,837
Total
78,317
72,271
72,495
70,594
73,639
72,387
Maturity - %
3.0
1.7
1.7
1.8
22.6
20.5
13.2
13.4
12.6
8.7
8.4
10.4
58.1
61.0
64.1
70.6
45.7
47.6
19.3
25.4
22.8
26.9
21.6
18.8
jun/02
sep/02
dec/02
mar/03
jun/03
sep/03
Up to 1 year
Up 5 to 1 years
Up 10 to 5 years
Up to 10 years
1111

12. well balanced credit portfolio
Credit Portfolio Profile
Sep/02
- R$ 63.0 billion
Sep/03
- R$ 72.6 billion
3.6%
3.0%
19.7%
11.4%
20.6%
20.3%
10.4%
12.6%
21.9%
20.4%
34.1%
21.9%
Retail
Commercial
Agribusiness
International
Abroad
Others
1212

13. strong position in retail portfolio
Retail Portfolio Highlights
R$ biillion
Retail portfolio increased 20.8%,
to R$ 15.0 billion
from R$ 12.4 billion
(sep/02 - sep/03)
7.3
6.8
2.5
2.1
2.4
1.5
1.5
Working capital operations
increased 60%,
reaching
R$ 2.4 billion.
1.1
1.4
0.9
sep/02
dec/02
mar/03
jun/03
sep/03
Consumer Credit
Overdraft Accounts
Working Capital
Credit Card
Others
1313

14. all the time with companies
Products for Companies
R$ billion
Portfolio for companies increased 7.1%, to
R$ 14.8 billion from
R$ 13.8 billion (sep/02 - sep/03)
7.5
6.0
2.6
2.7
2.0
1.9
1.9
1.4
1.3
1.3
Receivables are responsable for 50.3% of companies operations
sep/02
dec/02
mar/03
jun/03
sep/03
Receivables
Guaranteed account
Investment
Working Capital - Others
Others
1414

15. BB contributes to Brazilian agribusiness growth
Agribusiness Product
R$ billion
Leadership in Brazilian agribusiness.
Market share: 70.5%
8.7
4.2
2.9
2.7
2.9
Rural portfolio increased 79.5%
to R$ 24.8 billion from
R$ 13.8 billion
(sep/02 - sep/03)
2.2
sep/02
dec/02
mar/03
jun/03
sep/03
Saving
MCR 6.2
PROGER/PRONAF
1515

16. Leadership in foreign Exchange - export operations.
Strengthening foreign trade
Foreign Exchange Products
Leadership in foreign Exchange - export operations.
International Portfolio decreased to R$ 7.5 billion from R$ 7.9 billion (sep/02 - sep/03)
R$ billion
6.7
6.3
1.5
0.7
0.1
0.1
sep/02
dec/02
mar/03
jun/03
sep/03
ACC
Import Financing
Others
1616

17. evolution with responsability...
Credit Portfolios by Risk Level BB
NFS
Participation % - september/03
4.9
8.5
8,4
2.6
1.5
11.4
2.9
9.4
9.1
10.3
15.7
14.3
14,2
6.3
88.3
88.2
81.4
82.3
85.6
77.2
77,2
Retail
Commercial
Agrobusiness
International
AA-B
C-D
E-H
SFN
1717

18. ability to increase businesses with customers
Capital Adequacy
R$ million
BIS Ratio -%
3Q02
2Q03
3Q03
Risk weighted assets
107,797
105,974
109,121
14.3
PLE
12,472
12,350
12,705
13.4
13.8
Required on weighted assets
11,858
11,657
12,003
12.2
4.2
10.9
4.1
4.1
Required on Swap
144
166
173
3.8
Required on exchange exp
3.5
Required on Interest rate exp
470
528
529
Required Shareholders’ Equity
12,389
15,479
16,520
9.7
10.1
Level I
8,375
10,847
11,663
9.3
8.4
7.4
Capital and other items
10,100
11,041
11,706
Adjustment to market value
-1,724
-194
-43
Level II
4,014
4,632
4,858
sep/02
dec/02
mar/03
jun/03
sep/03
Shareholders’ Equity surplus/deficit
-82
3,128
3,815
Laverage surplus/deficit
-749
28,439
34,680
Level I
Level II
K Coeficient %
10.9
13.8
14.3 .
1818

19. insurance and private pension
Insurance Revenue
R$ million
143
135 99 66 58 51 41 35 19 20 22 17 11 15 7 1 4 1 5 5
3Q02
2Q03
3Q03
Total
Auto
Life and Others
Capitalization
Private Pension
Health
Management Insurance Funds
Insurance / Net Value Aggregated
1.9%
71.1%
27.0%
2.5%
68.4%
29.1%
3Q02
3Q03
27,0%
1,9%
71,1%
Insurance
MFB
Others
1919

20. APIMEC - Florianópolis
commitment to disclosure
Meeting with analysts
November 17th
Brazil Day NY
November 19th
V Foro Latibex - Madri
November 27th
APIMEC - Rio de Janeiro
December 01th
APIMEC - Florianópolis
December 03th
APIMEC - Recife
2020

21. Investor Relations Division
SBS - Quadra 1 - Bloco C - Ed. Sede III - 17° floor
Brasília (DF)
Phone: 55 (61)
Fax: 55 (61)
Disclaimer - This presentation contains references and statements, planned synergies, increasing estimates, projections of results and future strategy for Banco do Brasil, it’s Associated and Affiliated Companies and Subsidiaries. Although these references and statements reflect the management’s belief, it also involves imprecision and high difficult risks to be foreseen, consequently, it may conduct to a different result than the one anticipated here. These expectations are highly depended on market conditions, on the Brazilian economic performance, on the sector and the international market. Banco do Brasil is not responsible for bringing up to date any estimate in this presentation.